The Reserve Bank Governor reckons we're turning a corner

The central bank's cut the OCR 25-basis-points - to three-percent, and is signalling more are possible.

It's recognised unemployment is high and businesses aren't producing as much as they could.

Christian Hawkesby says the situation should improve as interest rates fall, with commodity prices remaining high.

He says things might not feel rip-roaring right now, but that should change later this year or early the next.